there is an abundance of evidence that CNP's problems have NOT RELATED to the company's earnings capacity. The cash generated for the half year 08 was 22cps!!!
CNP is princed in the gutter because the market perceived they would not be able to refinance debt and would be placed in administration. It seems that CNP management are getting on top of this risk although until a formal ASX announcement is made on Monday morning we can only base our views on media reports...
If CNP's risk is significantly alleviated as we expect on Monday there stock does deserve a significant rerating north. I am amazed that anyone would argue with this logic, it is as plain as the nose on yoru face.
Holding CNP after close on Thursday night took a lot of guts, some would say a lot of stupidity but fortunately it has paid off for us. Those that took the risk now deserve to have the facts highlighted.
CNP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
